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ELECTCAST 3rd Time Knocking its All Time High with Weekly HammerNSE:ELECTCAST The company was incorporated in November 1955, as Dalmia Iron & Steel Ltd and re-incorporated under the name of ECL in May 1965. ECL manufactures DI pipes with combined installed capacity of 7,45,000 MTPA. Combined production capacity for DI fittings and cast iron pipes is 21,000 MTPA and 90,000 MTPA, respectively. Through backward integration, the company also operates a blast furnace, coke oven and waste heat recovery-based power plant. Plants are in Khardah and Haldia in West Bengal, Elavur in Tamil Nadu, and Srikalahasthi in Andhra Pradesh. Strengths: Established position in the pipes industry with significant backward integration: The three-decade-long experience of the promoters in the ductile iron (DI) pipes industry has helped them establish significant market presence, expand production capacities, and undertake backward integration over the years. The facility is already utilised by over 90% and ECL plans to further add capacity of more than 2.5 lakh metric tonne per annum (MTPA) over the next two fiscals. This will enable the company to retain its leadership position in the DI pipe market. The company maintains strong trade relationships with reputed overseas customers and all major players in the domestic market. Limited competition, owing to large capital requirement and necessity to have critical accreditations and customer approvals, bolster the business risk profile. Performance is further supported by improving global and domestic demand, as reflected in a strong order book providing healthy revenue visibility. Healthy financial risk profile: Networth and gearing have improved to Rs 5,111 crore and 0.44 time, respectively, as on March 31, 2024 (Rs 4,376 crore and 0.6 time, respectively, a year earlier), backed by better profitability and hence, steady accretion to reserves. Lower dependence on external debt and better working capital management should also aid the financial risk profile. Debt protection metrics remain comfortable with interest coverage and net cash accrual to adjusted debt ratios at 5.7 times and 0.34 time, respectively, in fiscal 2024. Order Book 6 lakh tonnes let say, so about nine to 10 months of Healthy Order Book. worth of Around Rs. 4,500 crores approximately. Financial Highlights Revenues at INR 7,580 Crores, Highest ever yearly EBITDA and PAT at INR 1,281 Crores and INR 740 Crores, respectively in FY24 ➢ EBITDA margin and PAT margin at 16.9% and 9.8%, respectively in FY24 ➢ Adjusted FY24 ROCE at 19.0% (FY23 - 13.0%) and ROE at 19.3% (FY23 - 11.2%) ➢ Strong Order Book visibility of 10 months Other Financial Metrics EBITDA grew by 50.9% YoY to INR 346 Crores in Q4FY24, the EBITDA margin expanded by 495 bps YoY to 17.0%. • Highest ever PAT of INR 227 Crores, up by 153.8% YoY in Q4FY24, PAT margin expanded by 645 bps YoY to 11.1%. • Decline in interest cost by 33.3% during the quarter. Effective Positive Policies Jal Jeevan Mission (JJM): Driving Water Infra Demand ➢ The Government’s flagship scheme - Outlay of INR 3.60 lakh crores ➢ Providing water supply by to every crore rural household at a capacity of at least 55 litres per capita, per day (lpcd) by 2024 ➢ Providing Functional Household Tap Connections (FHTCs) to 19.4 crore rural households and village institutions ➢ Prioritising quality-affected villages (drought prone & desert areas Additional Government Schemes Driving Water Infra Spending AMRUT 2.0: INR 2,99,000 Crores (Launched by Hon’ble PM on 1st Oct 2021) ➢ Aims to provide 2.68 Crore water taps connections in 4,800 statutory towns ➢ New 2.64 Crore Sewerage/Septage services in 500 AMRUT cities
NSE:ELECTCASTLong
by iism-ExpertTrading
BAJAJ FINSERVE - DAILY TIME FRAME - MY VIEW ONLYThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves. we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle. Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price. Please keep your comments useful & respectful. Keep it simple, keep it Unique. Thanks for your support Tradelikemee Academy Saanjayy KG
NSE:BAJAJFINSVLong
by Tradelikemee
SWING IDEA - LATENT VIEW ANALYTICSIn the dynamic realm of market opportunities, Latent View Analytics emerges as a compelling prospect, poised for an upside rally. Reasons are listed below : After multiple tests at the crucial 500 level, Latent View Analytics is currently positioning for a decisive breakout. Robust bullish marubozu candles, both on the weekly and daily timeframes, signal a strong upward momentum. Notably, the weekly candle engulfs the preceding six weeks, emphasizing sustained buying interest. An upswing in volumes accompanies the bullish trend, indicating heightened market participation and conviction. Breaking free from a solid two-year consolidation phase, Latent View Analytics signals a shift from stagnation to potential growth. Target - 545 // 573 // 618 Stoploss - weekly close below 443 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:LATENTVIEWLong
by Visionary_Growth_Insights
SWING IDEA - ELECON ENGINEERINGConsider a promising swing trade opportunity in Elecon Engineering Company Limited , a leading provider of power transmission solutions, material handling equipment, and engineering services. Reasons are listed below : Decisive Breakout of Resistance : The price level of 1120, previously a strong resistance, has been decisively broken, indicating potential bullish momentum. Bullish Engulfing Candle on Weekly Timeframe : The presence of a bullish engulfing candlestick pattern on the weekly timeframe suggests strong buying momentum and potential upward movement. Breakout Above All-Time High : Elecon Engineering has broken above its all-time high, indicating strong bullish sentiment and potential for further gains. 0.382 Fibonacci Support : Finding support at the 0.382 Fibonacci level strengthens the bullish case, providing a solid foundation for potential upward movement. Trading Above 50 and 200 EMA on Weekly Timeframe : The stock is trading above both the 50 and 200 Exponential Moving Averages (EMA) on the weekly timeframe, confirming its bullish bias and potential for trend continuation. Volume Spike : A significant spike in trading volumes reflects increased market interest and potential accumulation by investors, adding confirmation to the bullish thesis for Elecon Engineering. Target - 1420 StopLoss - weekly close below 970 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
ELong
by Visionary_Growth_Insights
6
SWING IDEA - SUNTECK REALTYSunteck Realty , a prominent real estate development company, is showing technical indicators for a potential swing trading opportunity. Reason are listed below : Multiple Tests at 500 Zone : The 500 level has been tested multiple times, indicating strong resistance. The price is now attempting to break through this level, suggesting strong bullish momentum. Breaking 5+ Year Consolidation Zone : The stock is breaking out of a long consolidation phase that lasted over 5 years, signaling a potential new bullish trend. 50 and 200 EMA Support on Weekly Timeframe : The stock is finding support at both the 50-week and 200-week exponential moving averages (EMA), reinforcing the overall bullish sentiment and providing strong support levels. Trading Near All-Time High : The stock is trading near its all-time high, indicating strong market confidence and potential for further gains. Steady Price Action : The stock has shown steady upward movement, indicating controlled and sustained buying interest. Increased Volumes : A noticeable increase in trading volumes confirms the strength of the price move and indicates growing investor interest. Target - 590 // 780 Stoploss - weekly close below 430 Disclaimer : Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:SUNTECKLong
by Visionary_Growth_Insights
SWING IDEA - HBL POWER SYSTEMSHBL Power Systems , a leading battery and power systems manufacturer, is exhibiting technical signals that suggest a promising swing trading opportunity. Reasons are listed below : Break of Symmetrical Triangle Pattern : The price has broken out of a symmetrical triangle pattern, indicating a potential bullish trend continuation. Bullish Engulfing Candle on Weekly Timeframe : The recent formation of a bullish engulfing candle on the weekly chart suggests strong buying pressure and the potential for further upward movement. Closed Above 560 Resistance : The stock has closed above the 560 level, which was a crucial resistance zone, indicating strong bullish momentum. Higher Highs : The stock is consistently making higher highs, reinforcing the strength of the upward trend. Trading Above 50 and 200 EMA on Weekly Timeframe : The stock is trading above both the 50-week and 200-week exponential moving averages (EMA), reinforcing the bullish sentiment and providing strong support levels. Trading at All-Time High : The stock is trading at its all-time high, suggesting strong market confidence and potential for further gains. Target - 655 // 755 Stoploss - weekly close below 495 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:HBLPOWERLong
by Visionary_Growth_Insights
SWING IDEA - CASTROL INDThere seems to be a strong breakout in CASTROL IND . This could potentially be an excellent swing trade. Reasons are listed below : Multiple tests on 161 levels and finally the price broke these levels with high volumes. Marubozu candle (bullish sign) on weekly timeframe. Breakout after a strong consolidation of 5years . Stock price is above 50 and 200EMA i.e the trend is intact. Target - 213 // 242 // 271 StopLoss - weekly closing below 145 levels
NSE:CASTROLINDLong
by Visionary_Growth_Insights
UTI AMC - Ifs and Buts !!UTI AMC is currently displaying a symmetric triangle formation on its weekly chart. Recently, it formed a double bottom pattern on the weekly timeframe, which was followed by a breakout. The stock is currently encountering a minor resistance level. Interestingly, the resistance trend channel and the 50% Fibonacci retracement level align closely, making it a strong barrier for further upward momentum. Given the circumstances, if UTI AMC consolidates within this resistance zone before continuing its upward trajectory, it has the potential for significant momentum. Disclaimer: Please note that we are not registered advisors and the views expressed here are solely personal opinions. We strongly recommend consulting with your financial advisors before making any investment decisions. We like everybody else, have the right to be wrong.:)
NSE:UTIAMCLong
by TheChartereds
12
FRA40 Short Setup: Key Levels Near 7732/49 on 4-Hour Chart Monthly TF: Last month's ICMARKETS:F40 price action showed a strong bearish continuation bar, suggesting downward potential despite the overall bullish monthly trend. We're currently in a phase 2 pullback, which means short positions can be considered until the downside move concludes. Weekly TF: The weekly chart presents a more complex picture, with over four weeks of bearish sideways ranging bars. There have been rejections from the bottom, hinting the monthly downward move might be nearing its end. However, the last two weeks' price action, despite being low tests, hasn't really achieved anything that might suggest or confirm the downward move has come to an end. Daily TF: On the daily chart, FRA40 has been ranging for the past few weeks. By combining the monthly (down/pullback) and weekly (bearish sideways) biases, it seems prudent to take a short position from the top of the range towards the bottom. For the 4-hour chart, we will enter a short position with a Sell Limit around 7732.64/7749.48 . We'll place our Stop Loss above 7760.00 to manage risk, and our Take Profit will be the range's low around 7498.00 .
FShort
by iamfotx
USDCHF: 4-Hour Short Trade around 0.8996/0.90012 ZoneLast week's ICMARKETS:USDCHF price action formed a lower low and close, indicating potential for continued downward movement. The high test bar observed a week prior further supports this bearish sentiment. The daily chart shows erratic price action, particularly last Thursday, suggesting a bearish range. We plan to enter a 4-hourly short trade from the top of this range, specifically at the 0.89962/0.90012 zone, for a better risk-reward ratio compared to the 0.89644/0.8970 zone. We'll wait for the price to reach our level around 0.89962/0.90012 . If it doesn't, we'll remain patient and look for another opportunity rather than rushing the trade. Our stop loss will be placed above 0.90061 to manage risk effectively. The profit target is set at last week's low around 0.89258/0.89161 , aligning with the bearish trend.
Short
by iamfotx
1